Five Top Copper Stocks to Consider for the Second Half of 2022
Copper demand is only expected to rise. For one,“More than 700 million mt of copper will need to be mined in the next 22 years to maintain 3.5% GDP growth, without taking into account the electrification of the global economy, which is the same volume of copper ever mined, Ivanhoe Mines Founder & Co-Chair Robert Friedland,” as noted by S&P Global. In addition, the world could run into a 9 million mt copper deficit by 2030, as noted by BMO Capital. All while demand increases for electric vehicles, solar and wind-power technology, and power grids. In fact, as also noted by S&P Global,“All power grids globally were unreliable, with huge investment needed to upgrade aging grids -- in the US alone, he said investment of about $208 billion was needed by 2029 and around $338 billion by 2039.” All could drive significant interest to companies, such as Nine Mile Metals (CSE: NINE) (OTCQB: STVGF), Southern Copper Corp. (NYSE: SCCO), Freeport-McMoRan (NYSE: FCX), Teck Resources Ltd. (NYSE: TECK), and Turquoise Hill Resources (NYSE: TRQ) (TSX: TRQ).
Look at Nine Mile Metals (CSE: NINE) (OTCQB: STVGF), For Example
Nine Mile Metals announce the XRF results for Hole NM220003, at the Company's initial Stage 1 drill program at its flagship Nine Mile Brook VMS Project in the world-famous Bathurst Mining Camp, New Brunswick, Canada.
Hole NM22003 has been logged, measured, photographed, and cut and shipped for submission to ALS Global in Moncton, New Brunswick for certified analysis. The Company has completed its XRF analysis for its 3rd hole (NM220003) utilizing an Olympus Vanta 50 portable XRF equipped with a 50Kv Workstation and Reflex XRF software. The XRF process included calibrating the machine and utilizing 4 standards in the sample stream (OREAS 522B, OREAS 622, CDN-CS-10 and CDN-BL-10 Blank) at 4-meter intervals. Each sample consisted of a 1-meter section of cut drill core and as such, the sample was not homogeneous. There were 11 Sample Batches (approx. 11m), each sample batch had approximately 24-30 data points analyzed per meter, 11 total meter sections, approximately 300 data points in this sampling. The core sample is placed cut face down, and the XRF gun takes a random unknown sample of the core. The operator has no knowledge of the laser point. The sum of the averages was divided by the number of pieces, the results of which are presented below.
Hole #3 was a vertical hole drilled to a depth of 50 meters at Target Area #1. The drill hole intersected a chalcopyrite rich copper zone mixed with pyrite and lesser sphalerite (Zn) and galena (Pb). The mineralization is classic VMS style, fine to medium grained, locally banded and some mixing with sediments and volcanics.
“Hole NM220003 continues to be a Cu rich VMS body in the Target Area #1. We are working diligently to process all the holes and submit to ALS Global Labs for certified assays. We are looking forward to receiving the Au & Ag results due to the high-grade copper and lead in the system. Next steps will be our borehole EM probe surveys along the target horizon which should identify additional mineralization along strike and depth. These types of deposits cluster and repeat in folds and EarthEX will add another important layer in our highly advanced exploration model utilizing new proprietary technology and reprocessing algorithms. We look forward to delivering more news on our Nine Mile Brook VMS Project shortly.”, stated Gary Lohman, B.Sc., P.Geo., member of Technical Advisory Committee.
Patrick J Cruickshank, MBA, Director and member of the technical advisory committee stated,“This hole further defines our Target Area #1 body and we are currently preparing samples for shipment to EarthEX Geophysical Solutions in Selkirk, MB for physical properties analysis, along with our borehole EM survey, which will be applied to their 3D exploration analysis model for identification of further bodies similar to this target. These types of VMS bodies cluster in strings or multiple lens' in the BMC. This is the 3rd DDH results in our Target Area #1 VMS zone. We look forward to announcing our certified assays (including Ag & Au) results from ALS Global Labs.”
The anticipated date for receipt of certified assays is approximately 3 – 4 weeks. In total, 11.00m continuous drill core from DDH NM220003 were submitted. We look forward to receiving the certified assay values. The logging and cutting of core were done by Gary Lohman, B.Sc., P.Geo. (QP for Nine Mile). The XRF analysis was conducted by Patrick Cruickshank, MBA (Director and member of Technical Advisory Committee) under the supervision of G. Lohman, B.Sc., P.Geo., member of Technical Advisory Committee.
X-ray fluorescence is a non-destructive analytical technique used to determine the elemental composition of materials such as drill core. XRF analyzers determine the chemistry of a sample by measuring the fluorescent (or secondary) X-ray emitted from a sample when it is excited by a primary X-ray source. It should be noted that the results only provide an indication of the amount of Cu, Pb and Zn present. Certified assaying of the core samples is still required to accurately determine the amount of base metal and precious metal mineralization (Copper-Lead-Zinc-Silver and Gold). We have displayed the XRF unit results for the standards and are listed in the tables above.
Other related developments from around the markets include:
Southern Copper Corp. reported 1Q22 net sales were $2,763.8 million, which represented a 9.1% increase with regard to 1Q21's figure. Growth was primarily fueled by higher metal prices for all our main products except silver (-8.5%). This increase was partially offset by a decrease in the sales volume of copper, molybdenum and silver. Metal prices increased for copper (+17.7%, LME); molybdenum (+69.7%); zinc (+36.0%) and gold (+4.2%). 1Q22 Net income was $784.7 million, which represented a 2.7% increase when compared to the $763.8 million registered in 1Q21. The net income margin in 1Q22 was 28.4%, versus 30.2% in 1Q21. 1Q22 adjusted EBITDA was $1,678.4 million, which represented an increase of 8.0% with regard to the $1,554.5 million registered in 1Q21. The adjusted EBITDA margin in 1Q22 was 60.7% versus 61.4% in 1Q21.
Freeport-McMoRan announced that its Board of Directors declared cash dividends of $0.15 per share on FCX's common stock payable on August 1, 2022, to shareholders of record as of July 15, 2022. These dividends are being paid consistent with FCX's performance-based payout framework, which includes a base and variable dividend, announced in November 2021.
Teck Resources Ltd. announced it is setting a goal to become a nature positive company including through conserving or rehabilitating at least three hectares for every one hectare affected by its mining activities. Teck is taking immediate action towards achieving this ambitious goal through land conservation investments that will protect 14,000 hectares of wildlife habitat and ecosystems in Canada and Chile. This is equivalent to over 40 percent of our current mining footprint and equal to 35 Stanley Parks in Vancouver; 40 Central Parks in New York; more than twice the size of Manhattan; or 20,000 football (soccer) fields.
Turquoise Hill Resources announced that the first drawbell of the Hugo North underground mine at Oyu Tolgoi is scheduled to be fired on 17 June 2022. This is ahead of expectations and represents continued progress in terms of caving related milestones. The Company is assessing any net positive impact that this may have on timing of sustainable production of Panel 0 which is currently forecast in the first half of 2023 and will update the market as appropriate.
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